Media: A Chinese supplier of Nvidia raised €1.87 billion in Hong Kong
Chinese company Victory Giant Technology listed on Hong Kong's stock exchange on Tuesday, with its share price surging nearly 60%. The company, primarily supplying printed circuit boards to Nvidia, raised over €1.87 billion through this listing.
The company, already listed in Shenzhen, saw its shares jump 59.6% from the issue price at opening, reaching HK$335 (€36.32), raising HK$17.3 billion (over €1.87 billion).
According to AFP, Huizhou Victory Giant Technology mainly produces high-end printed circuit boards, a key component for artificial intelligence (AI) servers.
One of its major clients is Nvidia, which has become the world’s most valuable company due to global demand frenzy for AI chips.
This IPO marks the largest such offering since Zijin Gold International raised nearly €2.7 billion in September last year, making it the biggest in China’s southern financial hub.
In January this year, two Chinese AI firms—Zhipu AI and MiniMax—raised €479 million and €531 million respectively upon their listings in Hong Kong, representing a critical test amid escalating competition between China and the United States in this sector.
Dilin Wu (translated name) from brokerage Pepperstone explained that China continues to regard artificial intelligence, advanced industries, and semiconductor-related supply chains as "strategic sectors."
Thus, "companies like Victory Giant benefit both from policy support and easier access to financing."
The senior expert pointed out that while the rapid growth of AI servers has driven demand for high-end printed circuit boards, "the current market is characterized by limited supply."
She believes whether this level of profitability can be sustained depends on whether production capacity can "keep pace with demand growth driven by artificial intelligence."
Sources: rfi
Original: toutiao.com/article/1863117895239688/
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